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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
DATE OF REPORT: AUGUST 29, 1997
BIODYNAMICS INTERNATIONAL, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
FLORIDA 0-16128 59-3100165
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NUMBER)
1719 ROUTE 10, SUITE 314, PARSIPPANY, NEW JERSEY 07054
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE
1-973-359-8444
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ITEM 5. OTHER EVENTS
A. The Company at a meeting of the Board of Directors on August 29, 1997,
reached an agreement in principle with Renaissance Capital Group, Dallas,
Texas, ("Renaissance") to provide approximately $1 million of additional
capital to the Company. The additional funding will initially be in the form
of a bridge loan while certain details of the Agreement are worked out
between Renaissance, the Mezzanine Lenders, the Institutional Investors and
the Company.
B. Mr. Laurie Rostron resigned from the Board of Directors effective
August 27, 1997.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
99.1 News Release - Biodynamics Issues Updated Report on Working Capital
Negotiations
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, there unto duly authorized.
Date: August 29, 1997 Biodynamics International Inc.
/s/ Karl H. Meister
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Karl H. Meister
President and Chief Executive
Officer
/s/ Peter J. Finnerty
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Peter J. Finnerty
Chief Financial Officer
EXHIBIT INDEX
99.1 News Release - Biodynamics Issues Report On Working Capital Negotiations
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EXHIBIT 99.1
NEWS RELEASE
RELEASE: Immediate NASDAQ: BDYN
CONTACT: Peter J. Finnerty
(973) 359-8444
BIODYNAMICS INTERNATIONAL, INC.
UPDATED REPORT ON WORKING CAPITAL NEGOTIATIONS
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PARSIPPANY, NEW JERSEY - (August 29, 1997) - BDYN announced today that it has
reached an agreement in principle with Renaissance Capital Group, Dallas,
Texas, ("Renaissance") to provide approximately $1 million of additional
capital to the Company. The additional funding will initially be in the form of
a bridge loan while certain details of the Agreement are worked out between
Renaissance, the Mezzanine Lenders, the institutional Investors and the Company.
Biodynamics International, Inc. is a world leader in safe bioimplants for
tissue repair, with offices in Parsippany, New Jersey and Erlangen, Germany,
processing and manufacturing facilities in Alachua, Florida and Neunkirchen,
Germany and worldwide distribution.
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